Isatoic Acid Anhydride Market is predicted to reach USD 62,624.07 thousand at a CAGR of 2.93% during the forecast period

Pune, India, Sep 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Isatoic Acid Anhydride Market.

Market Synopsis

The global isotonic acid anhydride market was worth USD 47,951.43 thousand in 2021 and is expected to grow at a CAGR of 2.93% to reach USD 62,624.07 thousand by the end of 2030. The key factor driving the growth of the global isatoic acid anhydride market is the growing demand from key end-users such as pharmaceuticals and the agrochemical industry. Rising healthcare expenditure, government subsidies, and growing geriatric populations are further fueling the market's growth.

Isatoic acid anhydride is an organic compound with the formula C6H4(NH2) CO2H. It is also known as o-amino-benzoic acid, 2-aminobenzoic acid, N-carboxylic acid anhydride, and anthranilic acid. When pure, isotonic acid anhydride appears as a white solid, though commercial samples may appear yellow. It is widely used as a starting material in the synthesis of a wide variety of end-use compounds.

The key factor driving the growth of the global isotopic acid anhydride market is the growing demand from key end-users such as pharmaceuticals and the agrochemical industry. Rising healthcare expenditure, government subsidies, and growing geriatric populations are further fueling the market's growth.

Competitive Landscape

The global agrochemical market is highly fragmented in developing markets such as India and China. As partnerships, mergers, and acquisitions increase, the industry is likely to become more competitive. Furthermore, a growing number of players will enter the market during the estimated assessment period, increasing market competition. The major market players include BASF SE (Ludwigshafen, Germany), The Dow Chemical Company (Michigan, US), Alfa Aesar, Thermo Fisher Scientific (Massachusetts, US), Wujiang New Sunlion Chemical Co., Ltd. (Jiangsu, China), Otto Chemie Pvt. Ltd (Maharashtra, India), Muby Chemicals (Maharashtra, India), TCI (Shanghai) Development

Segmentation

By Application

• Dyes and Pigments: Dyes and pigments are the most important colorants used to add color or to change the color of something. They are widely used in the textile, pharmaceutical, etc. The Asia Pacific segment dominated the market with a share of 29.96%in 2021.


• Pesticides: A pesticide is any substance used to kill, repel, or control certain forms of plant or animal life that are considered to be pests. Isatoic Acid and Anhydride are used as intermediates in the pesticides.


• Herbicides: Herbicides, also known as weedkillers, are chemicals used to control unwanted plants, also known as weeds. Non-selective herbicides can be used to clear waste ground, industrial and construction sites, railways, and railway embankments because they kill all plant material with which they come into contact. Selective herbicides control specific weed species while leaving the desired crop relatively unharmed.


• Saccharin: Saccharin is a Synthetic lubricant with no nutritional value. It is approximately 550 times sweeter than sucrose but has a bitter or metallic aftertaste, particularly at high concentrations. Saccharin is used to sweeten beverages, candies, and cookies, as well as to mask the bitter taste of some medications.


• Flavors: Flavours are used as additives in a wide range of products in the food industry, pharmaceuticals, and others. Isatoic acid Anhydrides are used as intermediates in flavors. The Asia Pacific segment dominated the market with a share of 29.75% in 2021.

By End-Use

• Pharmaceuticals Isatoic anhydrides are reacted with nitrogen nucleophiles followed by cyclo-condensation by electrophiles to produce several quinazolines and quinazolinone derivatives. These compounds are used in a variety of medical and pharmacological products.


• Agrochemicals: Isatoic acid anhydride application in the production of pesticides and herbicides is likely to fuel the growth of the global market.


• Perfumes: The growth of the fragrances and perfumes market is primarily influenced by unpredictable and continuously changing fashion trends. The rising popularity of lighter-scented products, especially among the millennial population, and the availability of affordable body splashes, body mists, and cologne body sprays are expected to boost the sales of perfume and fragrance products in developed economies.


• Food and Beverages: Isatoic Acis anhydrides are used as intermediates in artificial flavors and colorants. Which are widely used in the Food and Beverages market

By Region

• North America: In North America, The US is the leading country in the region owing to the presence of the established pharmaceutical industry, the rising geriatric population, and an increase in the number of people with chronic diseases such as heart disease, cancer, respiratory diseases, diabetes, and kidney diseases.


• Europe: The European is largely attributed to the agrochemicals industry in the region. The France segment accounted for the largest market share of 19.30% in 2021, with a market value of USD 1,564.0 thousand; it is expected to register a CAGR of 2.69% during the forecast period.


• Asia Pacific: The Asia-Pacific market held the largest market share. This is largely attributed to the high demand for agrochemicals and pharmaceutical market in the region. Also, the easy availability of raw material, low labor costs, and growing concern for health fitness is further expected to augment the overall market growth.


• Latin America: The Latin American market is divided into Brazil, Peru, and Argentina are the major contributors in the region. Pesticides market accounted for the largest market share of 22.28% in 2021 in the region.


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  Middle East & Africa: IN Middle East & Africa UAE is the leading country in the region followed by Turkey and Egypt.The growth in the region is attributed to growing in the pharmaceutical industry.Access Full Report Details - isotonic acid anhydride market size